Italian automaker Fiat Auto SpA has an alliance with Ford Motor company to make small cars, a company official said on Friday.
Tata Motors has succeeded in securing a $3bn banking facility for its purchase of Jaguar and Land Rover from Ford Motor, which should clear the way for the deal to close next week. Tata's ability to raise the money in spite of the turmoil on debt markets represents a vote of confidence in the Indian company and removes one of the last main obstacles to the deal.
The company did not clarify if the software error affects only domestic sales or exports from the plant as well
Car maker Ford plans to unveil a new concept vehicle at the upcoming Delhi Auto Expo as the company looks to tap growth in the compact car segment India.
While Elon Musk's political influence continues to grow, his business empire is witnessing headwinds.
Ford India has introduced a new line-up of its mid-size sedan Fiesta in New Delhi.
It plans to recall another 700 EcoSport vehicles made between January and February 2016 and fitted with a 60/40 rear folding seat
Giving a fresh twist to the Ford India employees' strike at the firm's Maraimalai Nagar factory, the company has set the deadline for Monday evening for workers to accept a 'non-negotiable' severance package it is offering. It also indicated the possibility of legal action against workers from June 14 (Tuesday) and warned of early closure of the unit, before completing remaining export volume production. For the past 14 days, some 2,000 employees at the unit had struck work, seeking a better package from the company.
In wake of the coronavirus pandemic, US auto major Ford has asked its 10,000 employees in India, except those in business-critical roles, to work from home, a step which has also been taken up by Swedish luxury car maker Volvo. A Ford India spokesperson said, in recent days, the company has concluded that the issue of coronavirus has taken on a different dimension.
When 'humiliated' Tata did 'favour' to Ford with JLR buyout!
Continued adverse global automotive market conditions have resulted in a overall reduction in Jaguar Land Rover volumes during the quarter.
The company is still short of over Rs 4500 crore (Rs 45 billion) to refinance the debt which is due before June 2 this year. The company had planned to raise the fund for refinancing through three routes. It planned to raise about Rs 4200 crore through rights issues which it managed after the issue devolved on underwriters in October as the stock prices were tumbling globally following the economic crisis.
Maruti, Tata Motors and Ford Motor India have already made similar announcements.
Ratan Tata was one of the world's most influential industrialists yet he never appeared on any list of billionaires. He controlled over 30 companies that operated in over 100 countries across six continents yet lived an unpretentious life. Ratan Naval Tata, who died at a Mumbai hospital on Wednesday night at the age of 86 years, enjoyed a perhaps unique status -- a corporate titan who was considered a 'secular living saint' with a reputation for decency and integrity.
US auto major Ford Motor Co on Friday said it and India's Mahindra & Mahindra have decided to scrap their previously announced automotive joint venture and it will continue its independent operations in India as it is. The two companies determined that they will not complete a previously announced automotive joint venture between their respective companies. The decision follows the passing of the December 31, 2020 'longstop' or expiration date of a definitive agreement the organisations entered into in October 2019, Ford Motor Company said in a statement.
Teams of both companies are collaborating on all areas of mutual interest including electrification, distribution and product development.
With India leading the small SUV market and attracting majority of investments from Ford Motor Company, the country is set to become a hub for the US automobile major, a top official said.
'Krishna is your best friend. He knows what's best for you.' 'They talk about death being a final exam. So at 65, I have to be studying for my final exam.'
Ford to launch new compact car Figo Aspire in India
Besides their country of origin, General Motors, Ford Motor and Harley-Davidson have another trait in common: all three have failed in India, the world's fifth largest automobile market. All three of them took a tough call to de-prioritise India as a market amid disruption from heightened regulations and sharper focus on capital allocation by the parent.
According to CITU, around 90% of the 1,723 workers of the Sriperumbudur plant are participating in the strike. Samsung said it is ready to talk to employees and not a third party like CITU.
American automaker Ford on Thursday said that it had withdrawn plans to manufacture electric vehicles (EVs) in India and it won't invest in the country under the performance-linked incentive (PLI) scheme. "After careful review, we have decided to no longer pursue EV manufacturing for exports from any of the Indian plants. "We remain grateful to the government for approving our proposal under the PLI and for being supportive while we continued our exploration. "Ford India's previously announced business restructuring continues as planned, including exploring other alternatives for our manufacturing facilities.
Of the 15 car manufacturing companies in India, eight have a market share of below 2 per cent, raising questions about their long-term future in a competitive market that has already seen Ford Motors and General Motors slam the door on India.
From the customer point of view too, LFP batteries are safer and offer a longer life.
An unhappy, restive mood prevails at the Ford factory Maraimala Nagar, 50 km from Chennai, and the surrounding area. The security is tight - not just Ford security personnel but also Tamil Nadu state police who are posted at the main gate. From September 9, when Ford India announced it was phasing out its units in India and leaving, workers at its manufacturing unit at Maraimala Nagar have held onto one hope: that the state government will step in to save their jobs.
Kant, an alumnus of IIT-Kharagpur, was managing director of the company before being promoted as vice-chairman five years ago.
India can become one of the world's automotive export hubs of the 21st century.
Earlier in May, Ford India announced that it had dropped its plans to make electric vehicles (EVs) in India, which it intended to export, under the production-linked incentive scheme (PLI). Ford was among 20 companies that had signed a Champion OEM Incentive Scheme under the PLI project with the government in February this year. The decision comes as a blow for the 4,000-odd employees at Ford India's Maraimalai Nagar plant near Chennai and in Sanand, Gujarat. In September last year, the company had announced that it would exit the India market, which it had entered in 1995 through an on-again, off-again joint venture with Mahindra & Mahindra (they split in 1998, signed a JV in 2019 and split again in December 2020), retailing petrol and diesel brands such as the EcoSport, Figo, Aspire, and Endeavour.
Volvo will hold discussions with its parent company to start assembly operations in India by the end of this year.
After clocking losses for seven straight quarters, Tata Motors on Wednesday posted a consolidated net profit of Rs 3,043 crore in the third quarter (Q3) of 2022-23. This came on the back of a strong order book, better semiconductor chip supply, tempered commodity prices, and a better product mix. "We remain cautiously optimistic about the demand situation, notwithstanding the global uncertainty.
Inspiring story of America's iconic CEO.
The promoter entities of JSW Group are in talks with several electric-car manufacturers in China to launch an electric car for the Indian market at Rs 15-20 lakh, a source close to the development said.
The transaction - the second one in less than a year - is seen as an effort to restore investor faith in the company following a dismal performance by its UK subsidiary, Jaguar Land Rover Automotive.
So far, the current year has not been great for the leading car exporters from India. In the top five list of exporters -- Hyundai, Ford, Maruti Suzuki, General Motors and Volkswagen -- it is only Hyundai which is clocking a growth.
Barely days before it launches the world's cheapest car, Tatas were on Wednesday named the preferred bidder for Ford's British luxury brands -- Jaguar and Land Rover.
"Tata Motors, which is engaged in focused and detailed negotiations with Ford on the Jaguar Land Rover business, clarifies that the company has had no discussions with Fiat on deployment of technologies developed by Jaguar and Land Rover," the Mumbai-based company said in a statement.
MNC auto firms that sold cars below cost, at a loss, thereby paying lower excise duty are prime targets.
We no longer have the ambition to rival China save through words. We are happy to be fighting ourselves and digging up disputes from centuries ago as a substitute for real development, argues Aakar Patel.
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